Adamantem has signalled its plan is to support Climate Friendly’s growth and its aim to make a material contribution to net-zero emissions in the Australian land sector by 2050.
Climate Friendly works with farmers, landholders, managers and traditional Custodians to capture carbon from their land by adapting their land management practices, allowing them to earn and sell carbon credits.
Having operated for 18 years, Climate Friendly is reported to support the widest range of project types of any Australian carbon farming business.
With Adamantem’s backing, it is planning to scale up the business to meet its carbon abatement target of 100 million tonnes by 2025, having already delivered 20 million tonnes last year.
Climate Friendly chief executive Skye Glenday commented strategic investment from Adamantem will enable the firm to partner with more land managers.
Rob Koczkar, managing director at Adamantem, added: “We look forward to working together to continue innovating, onboarding more project partners and helping drive the industry’s growth.
“In particular, we look forward to supporting Climate Friendly’s focus on active landscape management which enables carbon farming partners the freedom and flexibility to regenerate the landscape in balance with sustainable agricultural production.”
Climate Friendly is the first investment to close in Adamantem’s second fund. Climate Friendly founder Freddy Sharpe, along with the current management team, remain shareholders in the business.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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